Food Empire

Food Empire: 4Q13 net loss y/y to US$0.2m from US$3.6m, while revenue grew 8% to US$74.1m, taking FY13 earnings to US$11.7m (-43%) and revenue to US$20.5m (+11%). Full year topline was mainly driven by higher sales from Russia (+12%), its largest contributor, as well as all other operating regions. However, bottomline was marred by higher advertising activities, staff costs, FX losses and start-up and investment costs in greenfield projects. Mgmt declared first and final DPS of 0.563¢, halved compared to FY12's 1.231¢.